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5 ways to help get ready for the fees ban

Thursday 09 May 2019

In less than a month the Tenant Fees Act 2019 will officially end most letting agent fees charged to tenants. It’s the biggest change to hit the lettings industry in decades. Are you ready?

If the answer is no, keep reading – Propertymark Industry Supplier PayProp advises on five sources for getting up to speed before 1 June 2019.

Answer most of your questions with the government guidance

Anyone without a law degree brave enough to read an Act of Parliament will find the language confusing at best, with many references to previous Acts scattered throughout. That is why the government has also produced a helpful guidance document, written in plain English, that explains the impact of the Act.

For the Tenant Fees Act 2019, the government has one specifically for landlords and agents.  This essential primer specifies what fees you can charge new tenants after the ban, what you can charge current tenants, and answers most questions agents might have.

View Government guidance

Resources in the ARLA Propertymark Fees Ban toolkit

Once you’re up on what you can and can’t charge tenants after 1 June, take a look at the ARLA Propertymark Tenant Fees Toolkit. It includes key points from the Act, highlights the experience of Scottish agents – who have already been through a fees ban, and includes templates for compliant tenancy agreements, fee schedules, transition documents and letters.

Discover growth after the fees ban at the ARLA Propertymark roadshow

ARLA Propertymark is hosting free roadshows across the country for its members in the lead-up to 1 June. If you can make it, you can look forward to ARLA Propertymark, Chief Executive, David Cox, explaining how the Tenant Fees Act 2019 could affect your business and getting insight from the association’s board members on ways to grow your business after 1 June in a webinar on 22 May.

Don’t lose sight of other laws

With the Tenant Fees Act 2019 currently making most of the noise in the property media, it’s easy to forget that other laws and local licences are introduced all the time, and non-compliance can often end in fines or a court appearance. Look into a service like GetRentr, which tracks the different laws and local licencing schemes to help you stay compliant.

It’s the new normal

The fees ban is only the latest in a long line of changes for the industry, and new announcements are coming in thick and fast (including the consultation on housing courts and a proposed ban on Section 21 evictions). The raft of new legislation is showing no sign of stopping, so consider using PropTech like PayProp to automate those repetitive admin tasks that keep you away from running your business. By creating more time in your nine-to-five, you will have the capacity to look at how new announcements could affect your business and what you need to do to avoid falling foul of the law.